4.2 Exposure to and Rapid Penetration of Electronic Payments in Emerging Markets.2.1 1980s: Introduction and rapid growth.The company's architecture enables multiple applications, including third-party applications, such as gift card and loyalty card programs, healthcare insurance eligibility, and time and attendance tracking, and allows these services to reside on the same system without requiring recertification upon the addition of new applications. In 2018, Verifone was acquired by Francisco Partners for $3.4 billion. Its products process a range of payment types, including signature and personal identification number (PIN)-based debit cards, credit cards, contactless/ radio frequency identification cards, smart cards, prepaid gift and other stored-value cards, electronic bill payment, check authorization and conversion, signature capture and Electronic Benefit Transfer (EBT). The company's products consist of POS electronic payment devices that run its own operating systems, security and encryption software, and certified payment software, and that are designed for both consumer-facing and unattended environments. Verifone sells merchant-operated, consumer-facing and self-service payment systems to the financial, retail, hospitality, petroleum, government and healthcare industries. Verifone provides technology for electronic payment transactions and value-added services at the point-of-sale. Verifone is an American multinational corporation headquartered in Coral Springs, Florida.
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